Westland Commodities Discloses 2011 Last Quarter Revenue Results

Top Quote Here is Westland Commodities' total revenue calculated for the last quarter of 2011: Income before taxes of $ 250 Million on $745 Million Net Revenues with earnings of $0.82 per share. End Quote
  • (1888PressRelease) November 01, 2012 - Westland Commodities, a leading global brokerage firm announced today its diluted earnings of $0.82 per share for the last quarter of 2011 which was ended on December 28, 2011 compared to its diluted earnings of $0.95 per share in 2008.

    Westland Commodities' calculated total revenues were $745 million while its income before taxes were $250 Million compared to its net revenues of $1.2 Billion and income before taxes of $948 million in the same quarter last year of 2010.

    Business High Spots of Westland Commodities:

    45- 50 percent of pre-tax profit margin for 2011
    47 percent of electronic brokerage pre-tax margin for 2011
    Growth of clients' equity by 70 percent and 21 percent growth of clients' accounts
    Daily Average Revenue Trades of 256 thousands in 2011-all cleared
    Market-making pre-tax revenue decline of 58 percent from the prior year
    53 percent Market-making pre-tax profit margin for 2011.

    According to Mr. Harvey McElroy, Managing Director of Westland Commodities, last year's trading activities were confronted by immense financial issues such as the consequences of credit issues and risk aversion have extremely affected investors, particularly institutional investors. "The effecting high option payments, which we are required to pay as part of the hedging costs, were became complicated to make up for with our trading profits, especially in the nature of deteriorating spreads and declining volumes," said Mr. McElroy.

    Mr. Harvey McElroy further stressed that Westland Commodities have escaped the crises without losses as it continue to position its business in a growing world of economy.

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